Sometimes gets hectic (over-trading?) updating... Summary of week... That mutual fund into Inauguration was a "problem" on Obama day.. The FAS position from 12 was really hell as it was at 10 before it was eliminated. The heavy mental opinion of how the day "should" be prevented objective thinking.. On Wednesday, managed to be long FAS 8.45 on that run to $10 (a LARGE position). Ahead of the trade, had decided I would be selling at $10 to $10.3. Well, I read some garbage on the net on the serious bullishness of Financials so I took it home and ended up salvaging at 8.6 yesterday morning.. An absolute failure as a trader. Trade your analysis and no one else's.. Constant reading other peoples garbage is a sin.. Economic data, yes, but not trading opinion not verified with technicals. It is an indication of laziness. Trading events a sign of gambling linked to said laziness. Currently long a little FAZ from 64 yesterday.. just sold for 73.5. There is very little reason to take home ETF's as 80 of the time the gap is filled so not much missed.
SP500... Grinding and grinding down.. All indicators except oscillators point down.. VIX, Put-Call, MACD... Problem is stochastics on the floor.. a little bump up would help a lot but must forget what I want the markets to do... Assuming current pattern continues (it won't), we should be in the 780 area soon..
I think it is impossible to consistently do well in the markets with prejudice. Sooner or later your beliefs will do you in. A great reason trader look for automatic systems. Triggered into AEM 53.59 earlier.
Triggered into EEP and TPP.. Clearly most of the market mess we have at the feet of Financials.. Lots of good looking Energy, metals, and Tech charts out there.
Just what I was hoping to avoid this year. Trading is tough. Ride a trend and stand aside once it ends as far as take homes are concerned when it comes to leverages ETFs.. Still there is not a give up bone in my body..